Kathmandu, Dec. 25
President of Nepal Chamber of Commerce Rajendra Malla has said
that illegal transactions should be controlled by managing the border with
India.
According to him, smuggling and illegal business are being done
by taking advantage of the open border between Nepal and India which has caused
huge revenue loss to the government.
Speaking at a programme organised by the Kailali Chamber of
Commerce in Dhangadhi, Malla said, "Nearly 40 per cent of illegal business
is happening because of the open border between Nepal and India. It is also
having a serious impact on the government revenue. In order to maintain trade
balance of the country, the government should manage import and export
business."
Malla also said that Nepal Chamber of Commerce is ready to work
hand in hand with the government to organise imports and promote exports. He
emphasised that the government should make the revenue system more flexible by
widening the scope of taxes. "Revenue leakage from the border has not been
controlled. A situation has arisen where some people pay taxes and others do
not. It is necessary to make the revenue system agile by increasing the scope
of taxes," he said.
According to him, private sector is always committed to
disciplined business and transparent tax system.
Published in The Rising Nepal daily on 26 December 2022.
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